More than 750 000 b/d of oil production has been shut in in Nigeria. The outage has provided some support to oil prices pushing it further from the low seen in January. The return of militancy in the Niger Delta is largely responsible for current losses with pipelines loading terminals and platforms all attacked. NNPC the IOCs and indigenous companies have all been seriously affected. While some of the infrastructure will return in the coming weeks we believe the likelihood of more militant activity to be high with significant downside risks to production in the near term.